Evoke Pharma (NASDAQ:EVOK) Shares Pass Below 200-Day Moving Average – Time to Sell?

Shares of Evoke Pharma, Inc. (NASDAQ:EVOK) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.94 and traded as low as $3.48. Evoke Pharma shares last traded at $3.70, with a volume of 35,454 shares traded.

Wall Street Analyst Weigh In

Separately, Wall Street Zen began coverage on shares of Evoke Pharma in a research report on Thursday, May 15th. They set a “sell” rating on the stock.

Evoke Pharma Trading Up 7.2%

The company has a market cap of $5.52 million, a P/E ratio of -0.34 and a beta of 0.16. The stock’s 50-day moving average price is $2.73 and its 200-day moving average price is $3.94.

Evoke Pharma (NASDAQ:EVOK) last released its quarterly earnings data on Monday, May 12th. The specialty pharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.18). The company had revenue of $3.08 million for the quarter, compared to the consensus estimate of $3.32 million. Evoke Pharma had a negative return on equity of 308.49% and a negative net margin of 71.32%.

Hedge Funds Weigh In On Evoke Pharma

An institutional investor recently raised its position in Evoke Pharma stock. Nantahala Capital Management LLC boosted its holdings in Evoke Pharma, Inc. (NASDAQ:EVOK) by 163.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 148,194 shares of the specialty pharmaceutical company’s stock after acquiring an additional 91,945 shares during the quarter. Nantahala Capital Management LLC owned 9.95% of Evoke Pharma worth $655,000 at the end of the most recent quarter.

Evoke Pharma Company Profile

Evoke Pharma, Inc, a specialty pharmaceutical company, primarily focuses on the development and commercialization of drugs for the treatment of gastroenterological disorders and diseases. It offers Gimoti, a metoclopramide nasal spray to treat symptoms associated with acute and recurrent diabetic gastroparesis in adults.